A long drawn-out sales cycle is an indication that you are not using an appropriate web quoting software tools to create quotes. This occurs, many times due to complex or configurable nature of products. Many value added resellers (VARS) have catalogs containing a wide range of possible configurations. Dealing with such complex ordering can become tricky if you are not using a CPQ solution. You will need to move to a CPQ solution due to the following reasons:
Unable to Handle Complex Quoting Requirements As the complexity of product offerings increase, it can become difficult to handle quoting requirements. You are facing a tough time dealing with the process of configuring products. For instance, offering a unique combination of products and services as per customer needs can be a challenging task without a CPQ software. So preparing a quote with custom configurations wonâ€™t be easy if you are not using a CPQ solution.
Unable to Leverage Upselling Opportunities According to Aberdeen group, a technology and service company, average deal size for businesses with a CPQ solution was 105 percent greater than the average deal for businesses without CPQ. This is because, while you are a preparing a quote, the CPQ software automatically offers upsell options that are appropriate to the products included in the quote. Thus with CPQ, you get an automated guide of relevant upsell opportunities during quote creation. In a way, CPQ helps to upsell products with maximum success. So to make the most of upselling opportunities, you need to use a CPQ solution.
You are losing Customers due to Long Wait Times Making your customer wait to get their quotes is like giving an open invitation to lose a sales opportunity. Creating complex products or bundling existing products and services is bound to be time consuming. Hence by the time you generate the quote, the customer would have received the quote from your competitors. However, if you are serious about closing the deal, you need to create and send complex quote quickly to the customer using CPQ sales quoting software.
You are Generating Inaccurate Quotes that is Hurting your Business Eliminating quoting errors is critical to improving your business. Just image the configuration errors that you make while quoting get passed down to order processing. So when the customer actually receives the product with configuration
that he hasnâ€™t approved, the order is likely to be rejected. This can result in huge loss of revenue. To avoid such costly mistakes, you need to use CPQ software that will help you to generate prompt error-free quotes.